Nov
21
House #1: Pending
November 21, 2007 |
Well, that was fast. After a quick conference with the wife and thinking it over during lunch, we countered the offer we got this morining for House #1 at $86,000 (with the same $2,500 in closing costs that they included in their offer, so essentially we countered their offer of $81,500 with $83,500) and they accepted in about 10 minutes.
Signing the contract tonight and, fingers crossed, shooting for a pretty quick closing date of December 11th. That may not happen but I’m out of town on another poker reporting gig from December 12th-December 19th, so they’re going to push their lender to get it done by the 11th, but we’re all on the same page as far as it possibly slipping until the 20th or later.
Slightly mixed feelings as far as all the things I rambled about in the earlier post, but I think the happiness I felt when our realtor called back with news that they’d accepted our counter-offer is pretty indicative of this being the right choice, as opposed to renting it out and hanging on for larger profits later down the road.
I’m pretty bullish as far as the prospects of property appreciation five and ten years down the road, but the next few years might be less than pretty. Lots of good arguments to be made for getting my investment out of House #1, making a little bit of scratch, and putting it back into more flips as prices continue to correct, instead of those same investment dollars basically stagnating, waiting for the market to perk back up.
After I take a break, that is. Yep, definitely taking a break. Definitely. Not even looking at listings to see what might be available. Definitely not doing that. Well, maybe justa bit, but only for research purposes. Yep, definitely for research purposes only.
But that’s obviously getting ahead of myself, as we have to get the deal done and closed first, which is far from a given these days, especially with a buyer looking to work closing costs into the deal. So, you know, fingers still crossed.
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